3201 Flagler Avenue 512, Key West, FL 33040

$400,000

Property Type: Commercial Sale Baths: 1 Square Footage: 702 Lot Size (sq. ft.): 30,878 Status: Contingent

Current Price: $400,000 List Date: 9/13/2025 Last Modified: 3/03/2026

Description

Introducing Flagler Center III, a reimagined mixed-use commercial property located in the Key West's New Town district. A strategic rebuild and redesigning of this site is in well on it's way led by Flagler Center III Condominium Association. The project is currently seeking approval for its major development plan, signaling a fresh start for 14 commercial units and the 14 residential units on this building. Location Highlights • Situated on Flagler Avenue, a major east-west artery in Key West • High visibility and traffic counts from both locals and tourists • Proximity to Poinciana Elementary, Key West High School, and residential neighborhoods • Easy access to U.S. Route 1 and Key West International Airport Property Features (Proposed) • Ground-floor retail and office suites • Upper-level residential • Modernized infrastructure and hurricane-resilient design • Ample parking and ADA-compliant access • Landscaped outdoor areas (pending approval) Investment Potential • Ideal for medical offices, retail, professional services, or co-working. • Strong rental demand in Key West's limited commercial inventory • Perfect opportunity to customize the space to your specific needs

More Information MLS# 616485

Contract Information

Listing Board: Key West Association Limited Representation: No As is Rght to Inspct: Yes Potential Short Sale: No Bank Owned: No Species List: No Current Price: $400,000 Listing Date: 2025-09-13 List Price: $400,000

Location, Tax & Legal

KW Neighborhood: New Town Unit #: 512 City: KEY WEST Off Shore Island: No Mile Marker: 3 Marathon Neighborhood: N/A Side: N/A Flood Zone: AE Alternate Key #: 8876084 Add'l Parcel #1: N/A Parcel #: 00052870-000312 Add'l Parcel #2: N/A Bldg Nbr: 3 Zoning: RO - Residential/Office Legal: FLAGLER CENTER III, A CONDOMINIUM UNIT 512 & 3.5714% COMMON ELEMENTS OR1396-66 Taxes: 1288.6 Tax Year: 2024 Street #: 3201 Street Name: Flagler Street Suffix: Avenue Key/Island: Key West State/Province: FL Zip Code: 33040 Subdivision: Flagler Center PH 3 (3) County: Monroe Area: 04 - Key West

General Property Description

Realtor.COM Type: Commercial Waterfront: No Control Depth: 0 Lot Size: 760 Lot SqFt: 30878 Business Name: N/A Total Units: 14 Year Established: 2026-12-31 # Parking Spaces: 41 Off Street Parking: YES # Stories: 1 Building Ht. Ft.: 101 SqFt Source: Builder/Architect Total # Buildings: 1 Building SqFt: 701.8 Style: Commercial Living Apx SqFt: 701.8 Year Built: 2026 Half Baths: 1 Total Baths: 1

Remarks & Misc

Remarks – Consumer: Introducing Flagler Center III, a reimagined mixed-use commercial property located in the Key West's New Town district. A strategic rebuild and redesigning of this site is in well on it's way led by Flagler Center III Condominium Association. The project is currently seeking approval for its major development plan, signaling a fresh start for 14 commercial units and the 14 residential units on this building. Location Highlights • Situated on Flagler Avenue, a major east-west artery in Key West • High visibility and traffic counts from both locals and tourists • Proximity to Poinciana Elementary, Key West High School, and residential neighborhoods • Easy access to U.S. Route 1 and Key West International Airport Property Features (Proposed) • Ground-floor retail and office suites • Upper-level residential • Modernized infrastructure and hurricane-resilient design • Ample parking and ADA-compliant access • Landscaped outdoor areas (pending approval) Investment Potential • Ideal for medical offices, retail, professional services, or co-working. • Strong rental demand in Key West's limited commercial inventory • Perfect opportunity to customize the space to your specific needs

Association Info

Mandatory Home Owners Asc: Yes 1st Right of Refusal: No

Type

Office Buildings: 1 Professional Service: 1 Retail: 1 Shop/Strip Center: 1 Other Services: 1

Fee Includes

Building Insurance: 1 Common Area Mnt: 1

Dockage

None: 1

Appliances

No Appliances: 1

Waterfront

None: 1

Waterview

No Waterview: 1

Construction

CBS: 1 Concrete: 1 Frame: 1

Land Size

None: 1

Utilities

Buyer to Verify: 1

Financial Status

Bank Owned: No Potential Short Sale: No

Status Change Info

Contingent: Contingent Status: Contingent

Property Features

Type: Office Buildings; Professional Service; Retail; Shop/Strip Center; Other Services Waterfront: None Waterview: No Waterview Dockage: None Utilities: Buyer to Verify Appliances: No Appliances Construction: CBS; Concrete; Frame Land Size: None Fee Includes: Building Insurance; Common Area Mnt

Listing Office: Keller Williams Key West Compass Realty

Last Updated: March - 03 - 2026

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

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